Suspicious Activity Report (SAR)

A Suspicious Activity Report (SAR) is a document that is filed by financial institutions or other entities to report any suspicious or potentially illegal activities observed in relation to financial transactions. SARs are submitted to law enforcement agencies and regulatory bodies, such as the Financial Crimes Enforcement Network (FinCEN) in the United States.

The purpose of a SAR is to help detect and prevent financial crimes, such as money laundering, fraud, terrorist financing, or other illicit activities. SARs typically contain detailed information about the suspicious transactions, including the individuals or entities involved, the nature of the activity, and any supporting documentation or evidence. By sharing this information with the appropriate authorities, SARs aid in the investigation and identification of potential criminal activities, contributing to overall efforts in maintaining the integrity and security of the financial system.